Loan Modification Corp :: Loan Modification Examples

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The scenarios below are examples of actual loan modifications. However, these examples are in no way meant to predict future outcomes or guarantee results.

	Results are not Guaranteed!
	We do not Estimate or Predict any Outcomes!

LoanModificationCorp.com is a free informational web site for consumers only and has no representation, liability, or responsibility for any of the companies, services, or resources accessed through this site. Always consult an attorney or CPA for professional real estate, foreclosure, and taxation advice.

Lowest Saved: $22,328.40
Average Saved: $234,447.11
Most Saved: $892,302.04

Example 1:

Lender:	Chase
Before:	Rate - 11.250%, Payment - $884.33, 3 mos. Past Due
Loan Modification Agreement:	Rate - 2.250% for 5 years, Payment - $396.25, $482.19 for 1 year, and $573.81 for remainder of term.
After:	Rate - 2.250%, 4.250%, 5.500% P&I Payment
Monthly Savings:	$488.08 (year 1-5), $402.14 (year 6), $310.52 (year 7-21 of 30)
Total Savings:	$29,284.80 + $4,825.68 + $78,251.04 = $112,361.52

Click Here to See the Actual Documentation.

Example 2:

Lender:	GMAC
Before:	NOD (Notice of Default) Filed and Trustee's Sale Date had been set.
Loan Modification Agreement:	Rate - 3.000% for remaining 28 years
After:	Rate - 3.000%, PITI payment - $1,530.97 -- Saved Home!
Monthly Savings:	$ Data not available
Total Savings:	$ Data not available

Click Here to See the Actual Documentation.

Example 3:

Lender:	Aurora Servicing
Before:	Rate - 7.375%, P&I Payment - $3,851.07
Loan Modification Agreement:	Rate - 4.000% for remaining 339 mos.
After:	Rate - 4.000%, P&I payment - $2,585.03
Monthly Savings:	$1266.04
Total Savings:	$429,187.56

Click Here to See the Actual Documentation.

Example 4:

Lender:	Indymac Bank
Before:	Rate - 6.500%, 30-yr Fixed w/ P&I Payment - $3,008.23
Loan Modification Agreement:	Rate - 5.750% for 27 years
After:	Rate - 5.750%, 30-yr Fixed w/ P&I Payment - $2,792.16
Monthly Savings:	$216.07
Total Savings (60 mos):	$70,006.68

Click Here to See the Actual Documentation.

Example 5:

Lender:	American Home Mortgage Servicing
Before:	Rate - 7.375%, Adjustable, 2 mos Past Due, P&I Payment - $2,240.61
Loan Modification Agreement:	Rate - 5.000% yr 1, 5.250% yr 2, 5.500% yr 3, 5.750% yr 4, 6.000% for remainder of term.
After:	Rate - 5.000% - $750.54, 5.250% - $769.50, 5.500% - $788.13, 6.000% - $824.87
Monthly Savings:	$157.81 (year 1), $138.85 (year 2), $120.22 (year 3), $83.48 (year 4 - 27)
Total Savings:	$1,893.72 + 1,666.20 + $1,442.64 + $24,042.24 = $29,044.80

Click Here to See the Actual Documentation.

Example 6:

Lender:	GMAC
Before:	Rate - 7.375%, Balance - $654,103.63, P&I Payment - $4,517.73
Loan Modification Agreement:	Rate - 3.500% for remainder of time, term extended to 40 years
After:	Rate - 3.500% for 461 mos w/ Payment of $2,809.56
Monthly Savings:	$1,935.58
Total Savings:	$892,302.94

Click Here to See the Actual Documentation.

Example 7:

Lender:	Countrywide
Before:	Rate - 8.625%, P&I Payment - $3,695.83, 7 mos Past Due!
Loan Modification Agreement:	Rate - 4.250% for 5 years
After:	Rate - 4.250%, Interest Only payment - $2,515.83
Monthly Savings:	$1,180.00
Total Savings (60 mos):	$70,800.00

Click Here to See the Actual Documentation.

Example 8:

Lender:	Countrywide
Before:	Rate - 5.125%, P&I Payment - $1,947.24, Current
Loan Modification Agreement:	Rate - 3.500% for remainder of time, term extended to 40 years
After:	Rate - 3.250%, P&I Payment - $1,381.62
Monthly Savings:	$565.62
Total Savings:	$183,260.88

Click Here to See the Actual Documentation.

Example 9:

Lender:	Specialized Loan Servicing
Before:	Rate - 8.125%, P&I Payment - $537.96, 2 mos Past Due
Loan Modification Agreement:	Rate - 4.000% for remainder of term
After:	Rate - 4.000% w/ P&I Payment of $413.02
Monthly Savings:	$124.94
Total Savings:	$34,483.44

Click Here to See the Actual Documentation.

Example 10:

Lender:	Countrywide
Before:	Rate - 8.125%, Interest Only Payment - $2,240.61
Loan Modification Agreement:	Rate - 3.250% for 5 years w/ $15,000 Principal Reduction
After:	Rate - 3.250%, Interest Only payment - $1,023.53
Monthly Savings:	$1217.08
Total Savings (60 mos):	$73,024.80

Click Here to See the Actual Documentation.

Example 11:

Lender:	Wells Fargo Home Mortgage
Before:	Rate - 5.375%, P&I Payment - $1,243.14
Loan Modification Agreement:	Rate - 3.375% for 40 years
After:	Rate - 3.375% w/ P&I Payment of $818.35
Monthly Savings:	$424.79
Total Savings (60 mos):	$137,631.96

Click Here to See the Actual Documentation.

Example 12:

Lender:	OCWEN
Rate Before:	6.125%
Payment Before:	$1542.82
Loan Mod Agreement:	3.950% for 5 years
Rate After:	3.950%
Payment After:	$1143.24
Monthly Savings:	$399.58
Total Savings:	$23,974.80

Click Here to See the Actual Documentation.

Example 13:

Lender:	Litton
Rate Before (1st):	10.125%
Payment Before (1st):	$2497.73
Loan Mod Agreement (1st):	4.530% for 30 years
Rate After (1st):	4.530%
Payment After (1st):	$1405.68
Monthly Savings:	$1092.05 x 360 = $393,138
Rate Before (2nd):	12.700%
Payment Before (2nd):	$196.18
Loan Mod Agreement (2nd):	4.530% for 30 years
Rate After (2nd):	4.530%
Payment After (2nd):	$79.20
Monthly Savings:	$116.98 x 360 = $3509.40
Total Savings:	$396,647.40

Click Here to See the Loan Mod Worksheet 1st / 2nd

Example 14:

Lender:	OCWEN
Rate Before:	8.000%
Payment Before:	$1187.24
Loan Mod Agreement:	3.950% for 5 years
Rate After:	3.950%
Payment After:	$815.10
Monthly Savings:	$399.58
Total Savings:	$22,328.40

Click Here to See the Actual Documentation.

Example 15:

Lender:	Litton
Rate Before:	9.890% Adjustable
Payment Before:	$3152.68 PITI
Loan Mod Agreement:	4.600% for 30 years
Rate After:	4.600%
Payment After:	$1969.97
Monthly Savings:	$1182.71
Total Savings:	$425,775.60

Click Here to See the Actual Documentation.

Example 16:

Lender:	Litton
Rate Before:	6.680% Adjustable
Payment Before:	$4569.00 PI
Loan Mod Agreement:	4.580% for 30 years
Rate After:	4.580%
Payment After:	$3261.12
Monthly Savings:	$1307.88
Total Savings:	$470,836.80

Click Here to See the Loan Mod Worksheet.

Example 17:

Lender:	Countrywide
Rate Before:	11.875% Fixed
Payment Before:	$2034.48
Loan Mod Agreement:	6.375% for 30 years
Rate After:	6.375%
Payment After:	$1079.81
Monthly Savings:	$954.67
Total Savings:	$343,681.20

Click Here to See the Loan Mod Worksheet.

Example 18:

Lender:	Carrington Mortgage Services
Rate Before:	9.600% Adjustable
Payment Before:	$4275.31
Loan Mod Agreement:	6.500% for 30 years
Rate After:	6.500%
Payment After:	$3377.95
Monthly Savings:	$897.36
Total Savings:	$323,049.60

Click Here to See the Loan Mod Worksheet.

Example 19:

Lender:	Central Mortgage
Rate Before:	8.380% Adjustable
Payment Before:	$3803.00
Loan Mod Agreement:	2.000% for 2 years ($925.83), 3.000% for 2 years ($1388.74), 4.000% for 2 years ($1851.66), and then Fixed at 5.250% ($3477.04) for the life of the loan.
Rate After:	2.000% - 5.250%
Payment After:	$925.83 - $3477.04
Monthly Savings:	$2877.17 - $325.96
Total Savings:	$69052.08 + 57,942.24 + 46,832.16 + 7823.04 = $181,649.52

Click Here to See the Loan Mod Worksheet.

The scenarios above are examples of actual loan modifications. However, these examples are in no way meant to predict future outcomes or guarantee results.

	Results are not Guaranteed!
	We do not Estimate or Predict any Outcomes!

LoanModificationCorp.com is a free informational web site for consumers only and has no representation, liability, or responsibility for any of the companies, services, or resources accessed through this site. Alaways consult an attorney or CPA for professional real estate, foreclosure, and taxation advice.